Employee Turnover Challenges Apartment Industry 08/26/2008 | Merit increases are falling, healthcare costs are rising, and high turnover rates continue to be a challenge for many on-site positions in the apartment industry. A new survey from the Washington, D.C.-based National Multi Housing Council (NMHC), the annual National Apartment Survey of Compensation and Benefits Practices, shows that many apartment firms have made controlling employee turnover a priority in recent years. While the investment is paying off, with overall turnover down from last year's 42.8 percent (and the 59.2-percent record of 2006), turnover is still a major problem for the industry. Many on-site property jobs posted increases in turnover this year. Leasing consultants were once again the highest turnover position (at 59.9 percent).The survey also indicated that challenging market conditions will likely translate into smaller merit increases in 2008. Firms predict a 3.7-percent increase for employees at the vice-president level and above, and managers below VP level can expect 3.5-percent average merit increases this year.The survey covers 68 positions (from CEO to leasing consultant) and is based on responses from 126 firms, representing more than 49,000 apartment industry professionals.For more information, visit www.nmhc.org. Previous ArticleNext ArticleENERGY STAR Announces 2013 Upgrade of Portfolio Manager Twitter Facebook LinkedIn Email Share Share Other Open Social Related Coverage Montreal Protocol Phases Out Hydrofluorocarbons BIFM Revises Good Practice Guide on Recycling and Waste Management How to Build a Waste Management Program Related Articles Sustainability / Resilience 8 Sources of Building Energy Waste Sustainability / Resilience Sustainable Locker Materials and Solutions for Every Place and Purpose Sustainability / Resilience ASTM Unveils Standard on Recycling Roofing Materials Sustainability / Resilience U.S. Summer Gasoline Consumption in 2016 Sets New High Sustainability / Resilience How to Future-Proof Your Building Building Controls The First Steps of Adding Intelligence to Your Facility Energy Management How to Increase Productivity and Engagement in Outdoor Spaces Building Controls Fine-Tuning HVAC Controls for Maximum Efficiency HVAC Fine-Tuning HVAC Controls for Maximum Efficiency Sponsored Links Smart roof systems improve building energy efficiency. Polyglass’ Polyfresko® cap sheets with CURE Technology® saves on energy. Engineered to perform, Polyfresko has superior granule adhesion and excellent puncture, stain and UV resistance. Increase profitability by cleaning smarter and transforming your building into a high performing asset. Get tips from High Performance Building experts Whether it’s earning an IREM credential or increasing your job skills, any goal in property management can be accomplished with IREM education. Click here to visit our website!